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PL
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19.03.2014
Current report no. 6/2014
Current report no. 6/2014

Resolution of the Board on the Bond Issue Programme

With reference to the current report no. 2/2014 the Management Board of Echo Investment S.A. (the "Issuer", the "Company") hereby reports that that on the 18th of March 2014 the Board passed a resolution on the enactment of an ordinary bearer bond issue programme of up to 2,000,000 bonds with a nominal value of PLN 100 each and a total nominal value of up to PLN 200,000,000 (the "Issue Programme", the "Bonds").
The Bonds are to be issued on the following conditions: 1. The Bonds will be issued on the basis of Art. 9 section 1 of the Act on Bonds of the 29th of June 1995 (the "Act on Bonds"). 2. The Bonds will be offered in a public offering within the meaning of Art. 3 section 3 of the Act of the 29th July 2005 (the "Act on Public Offering"), on the basis of a prospectus drawn up the Company pursuant to Art. 21 section 2 of the Act on Public Offering and confirmed by the Financial Supervision Authority. 3. The Bonds will not have a form of document. The Bonds will be dematerialized and registered in a depository for securities under the management of the National Depository for Securities. 4. The Bond issue conditions within the meaning of Art. 5b of the Act on Bonds will consist of basic Bond issue conditions included in the prospectus and an issue supplement that will contain detailed Bond issue conditions referring to a given series, which are to be established individually for each series of Bonds before their issue. 5. The Bonds will be unsecured. 6. The interest on the Bonds will be variable or fixed. The method of interest calculation, the starting date of interest calculation, the amount of interest, the interest payment dates and places will be stipulated in the issue supplement of a given series of Bonds. 7. The bonds will be issued in one or more series within a period of maximum 12 months from the date when the basic prospectus concerning the Issue Programme is approved by the Financial Supervision Authority. All the series of Bonds will be identical in terms of the incorporated rights, which does not preclude the possibility of differentiation of other issue conditions regarding individual Bond series. 8. The Bond redemption period will not be longer than 10 years from the issue date of a given Bond series; the date and principles of redemption will be stipulated in the issue supplement of  given Bond series, which can also provide for an early redemption of Bonds at the Company"s or bond holder"s request. 9. The benefits resulting from the Bonds will be exclusively monetary and will consist in the payment of their nominal value and the interest. A detailed description of the benefits resulting from the Bonds, in particular the amount of the benefits and the method of their calculation as well as the dates, methods and places of their payment will be included in the basic issue conditions and the issue supplement of a given series of Bonds. 10. The Bonds of each series will be included in an application to list and float them on the regulated market as part of the Catalyst platform which is operated by the Warsaw Stock Exchange. 11. The Bonds will be marked with a series number which will be indicated in the issue supplement of a given Bond series. 12. The issue conditions of a given Bond series will not provide for a minimal number of Bond subscriptions required for an issue to be effective. Legal basis: art. 56 (1.1) of the act on public quotations and conditions of introducing financial instruments to organized trade and on public companies of the 29th of July 2005 (Journal of Laws No. 184 item 1539).

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